Robigk at 19:22, 25 March 2026

2026-03-25T19:22:15Z

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{{short description|Indian multinational IT services company}}
{{Use Indian English|date=August 2020}}
{{Use dmy dates|date=June 2020}}
{{Infobox company
| name = LTM Limited
| logo = LTM Coral.svg
| logo_size =
| image =
| image_caption =
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|540005}}|{{NSE|LTM}}}}
| ISIN = INE214T01019
| industry = [[Information technology]] [[Consulting]] [[Outsourcing]]<ref>{{cite web |url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4440082 |archive-url=https://web.archive.org/web/20081209151115/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4440082 |archive-date=9 December 2008 |title=Larsen & Toubro Infotech Limited: Private Company Information – BusinessWeek |publisher=Investing.businessweek.com |url-status=dead |access-date=11 July 2012}}</ref>
| foundation = {{Start date and age|23 December 1996}}
| location_city = L&T House, [[Ballard Estate]], [[Mumbai]]
| area_served = Worldwide
| key_people = [[S. N. Subrahmanyan]] {{small|(Non-Executive Chairman)}} Venu Lambu {{small|(CEO and Managing Director)}}
| revenue = {{increase}} {{INRConvert|38997|c}} (2025)
| operating_income = {{increase}} {{INRConvert|6214|c}} (2025)
| net_income = {{increase}} {{INRConvert|4602|c}} (2025)
| assets = {{increase}} {{INRConvert|30630|c}} (2025)
| equity = {{increase}} {{INRConvert|22711|c}} (2025)
| num_employees = 81,650 (March 2024)<ref>{{cite news |title=LTIMindtree reports 1.2% Y-o-Y decline in net profit |url=https://www.techcircle.in/2024/04/24/ltimindtree-reports-1-2-y-o-y-decline-in-net-profit/ |access-date=24 April 2024 |work=Techcircle |date=24 April 2024 |language=en}}</ref>
| parent = [[Larsen & Toubro]] (68.73%)
| location_country = India
| former_name = L&T Infotech Limited (2001–2022) LTIMindtree Limited (2022–2026)
| homepage = {{url|https://www.ltm.com/}}
| footnotes = Financials {{as of|2025|03|31|lc=y|df=yes}}.<ref>{{cite web |title=Financial Results For Q4 FY25 |url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/d9adc968-e6d3-4eb3-afd4-542e55dd78d4.pdf |website=BSE |publisher=LTIMindtree |access-date=23 April 2025}}</ref>
}}

'''LTM Limited''' (formerly '''LTIMindtree Limited''') is an Indian [[Multinational corporation|multinational]] [[information technology]] services and [[consulting]] company based in [[Mumbai]]. A subsidiary of [[Larsen & Toubro]], the company was incorporated in 1996 and employs more than 81,000 people.<ref>{{cite news |last1=Phadnis |first1=Shilpa |last2=Mani |first2=Veena |title=LTIMindtree aspires to be $10bn in revenue: CEO |url=https://timesofindia.indiatimes.com/business/india-business/ltimindtree-aspires-to-be-10bn-in-revenue-ceo/articleshow/95544693.cms |access-date=9 December 2022 |work=The Times of India |language=en}}</ref>

==History==
{{multiple image
| direction = vertical
| align = right
| width =
| image1 = Mt Front, Mindtree Chennai (2014).jpg
| image2 = L ^ T Powai - panoramio.jpg
| image3 = Sattva Global City, Rajarajeshwari Nagar, Bangalore (2024) 75.jpg
| footer = LTM campuses
| total_width =
| alt1 =
| caption1 = [[Ramanujan IT City]], Chennai
| caption2 = Global Headquarters [[Powai]], Mumbai
| caption3 = [[Global Village Tech Park|Sattva Global City]], Bangalore
}}
The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro.<ref name="L&T Subsidiaries">{{cite news |title = Sanjay Jalona CEO & MD of LTI|url = http://timesofindia.indiatimes.com/tech/tech-news/LT-appoints-ex-Infosys-executive-Sanjay-Jalona-CEO-of-IT-unit/articleshow/48452076.cms|work = lntinfotech.com| date=12 August 2015 |access-date = 8 February 2016|publisher = L&T Infotech}}</ref> During 2001–2002, the company's name was changed from L&T Information Technology Ltd. to L&T Infotech Ltd., and in the same year, the company achieved the assessed level of the Software Engineering Institute's (SEI) Maturity Level 5.<ref>{{cite news| title=expresscomputeronline| url=http://www.expresscomputeronline.com/20020401/indnews17.shtml| date=1 April 2002| access-date=25 November 2012| archive-url=https://web.archive.org/web/20040904095904/http://www.expresscomputeronline.com/20020401/indnews17.shtml| archive-date=4 September 2004| url-status=dead}}</ref><ref>{{cite web|url=https://www.business-standard.com/company/l-t-infotech-18105/information/company-history|title=Larsen & Toubro Infotech Ltd.|access-date=16 April 2019|via=Business Standard}}</ref>

Between 2009 and 2012, parent Larsen & Toubro sought to scale up L&T Infotech by making a series of acquisition attempts, for [[Satyam Computer Services]], [[Patni Computer Systems]] and Hexaware Technologies, all three of which proved to be unsuccessful.<ref>{{cite news |last1=Sanjai |first1=P R.|last2=Khan |first2=Zahra |title=L&T Infotech plans to enter new markets, make acquisitions |url=https://www.livemint.com/Industry/36CTM7eP21M66qfkhcr9oL/LT-Infotech-plans-to-enter-new-markets-make-acquisitions.html |access-date=26 April 2024 |work=Mint |date=14 October 2013 |language=en}}</ref><ref>{{cite news|last1=Barman |first1=Arijit|last2=Shinde |first2=Shivani |title=Now, L&T jumps into Hexaware race to reboot Infotech |url=https://www.business-standard.com/article/companies/now-l-t-jumps-into-hexaware-race-to-reboot-infotech-112030700027_1.html |access-date=26 April 2024 |work=Business Standard |date=7 March 2012}}</ref>

In 2013–14, L&T Infotech's engineering services segment was acquired by parent [[Larsen & Toubro]]'s newly created technology and engineering services subsidiary called [[L&T Technology Services]].<ref>{{cite news |title=L&T to set up new arm L&T Technology Services |url=https://economictimes.indiatimes.com/news/company/corporate-trends/lt-to-set-up-new-arm-lt-technology-services/articleshow/21982025.cms |access-date=14 October 2022 |work=The Economic Times}}</ref><ref>{{cite news |last1=Sanjai |first1=P. R. |title=L&T to sell 15% stake in L&T Technology Services via IPO |url=https://www.livemint.com/Companies/3qE6Qrm4YrKmqdl1LZuJiJ/LT-to-sell-15-stake-in-LT-Technology-Services-via-IPO.html |access-date=14 October 2022 |work=mint |date=15 July 2016 |language=en}}</ref>

In July 2016, L&T Infotech went [[public company|public]] via an [[initial public offering]] (IPO) of {{INRconvert|1243|c|year=2016|mode=historical}}.<ref>{{cite news |last1=Shah |first1=Ami |title=L&T Infotech falls 1.74% on debut; first IPO to list at a discount in 4 months |url=https://www.livemint.com/Money/xoHJj0L7R2sT0cIJvJ2xTO/LT-Infotech-shares-fall-611-first-IPO-to-open-at-a-disco.html |access-date=14 October 2022 |work=mint |date=21 July 2016 |language=en}}</ref>

Between 2016 and 2017, L&T Infotech had contracts with the [[Income Tax Department]] and [[Central Board of Direct Taxes]] to detect income tax evasion using [[Profiling (information science)|profiling]], [[data model]]s and [[social media analytics]].<ref>{{cite news |last1=Seth |first1=Dilasha |title=L&T Infotech bags contract for Project Insight |url=https://www.business-standard.com/article/economy-policy/l-t-infotech-bags-contract-for-project-insight-116071700799_1.html |access-date=30 July 2024 |work=Business Standard |date=18 July 2016}}</ref><ref>{{cite news |title=L&T Infotech gets $100 million project from CBDT to help pin down tax evaders |url=https://www.livemint.com/Industry/sxRN0AjjwUkUGFBHboQsGI/LT-Infotech-gets-100-million-project-from-CBDT-to-help-pin.html |access-date=30 July 2024 |work=Mint |date=1 October 2017}}</ref>

The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.<ref>{{cite web|url=https://www.moneycontrol.com/news/business/companies/lt-infotech-rebrands-itself-as-lti-in-keeping-with-new-business-reality-2270673.html|title=L&T Infotech rebrands itself as LTI in keeping with new business reality|website=Moneycontrol|date=4 May 2017 |access-date=16 April 2019}}</ref>

===Mindtree merger===
In June 2019, Larsen & Toubro completed its [[Takeover#Hostile takeover|hostile takeover]] of Bengaluru-based company [[Mindtree]], despite opposition from the latter's promoters.<ref>{{Cite web |last=Laskar |first=Anirudh |date=2019-06-26 |title=With 60% stake, L&T completes its hostile takeover of Mindtree |url=https://www.livemint.com/companies/news/with-60-stake-l-t-completes-its-hostile-takeover-of-mindtree-1561536743325.html |access-date=2023-08-17 |website=mint |language=en}}</ref>

In May 2022, it was announced that Mindtree, which was then a different IT services subsidiary of Larsen & Toubro, will be merged into LTI,<ref name=":0">{{Cite news |last=Press Trust of India |first= |date=2022-06-19 |title=L&T Infotech-Mindtree merger likely by December, says LTI COO |work=Business Standard India |url=https://www.business-standard.com/article/companies/l-t-infotech-mindtree-merger-likely-by-december-official-122061900849_1.html |access-date=2022-07-07}}</ref> and the company will be renamed as LTIMindtree.<ref name=":0" /><ref>{{cite news|url=https://timesofindia.indiatimes.com/business/india-business/ltimindtrees-banking-fin-portfolio-to-be-5th-largest/articleshow/91425364.cms|title=LTIMindtree to have fifth largest BFSI portfolio|newspaper=The Times of India |date=9 May 2022 }}</ref> Larsen & Toubro Group chairman [[A. M. Naik]] commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality in [[BFSI]] industry and was active in the oil and gas sector, while Mindtree had a plurality in [[Media (communication)|technology, media and telecommunications]] (TMT) with a presence in travel and hospitality.<ref>{{cite web|url=https://www.livemint.com/companies/news/ltimindtree-begins-life-in-the-big-league-11668454288057.html|title=LTIMindtree begins life in the big league|date=15 November 2022 }}</ref>

The merger was completed in November 2022. Subsequent to Merger, company changed name to LTIMindtree, becoming India's fifth largest provider of IT services by market capitalization and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.<ref name="m-cap">{{cite web|url=https://www.thehindubusinessline.com/info-tech/lti-mindtree-merger-takes-effect-latter-to-delist-from-bourses-on-nov-24/article66135921.ece|title=Merged entity. LTI-Mindtree merger takes effect; latter to delist from bourses on Nov 24|date=14 November 2022 }}</ref>

In February 2026, LTIMindtree Limited announced that it would change its name to LTM Limited.<ref>{{cite news |last1=Shinde |first1=Shivani |title=LTIMindtree unveils new identity, to be renamed LTM Limited; board approves |url=https://www.business-standard.com/companies/news/ltimindtree-rebrands-to-ltm-limited-126021101202_1.html |access-date=21 February 2026 |work=Business Standard |date=11 February 2026}}</ref><ref>{{Cite web |title=BSEINDIA |url=https://www.bseindia.com/corporates/anndet_new.aspx?newsid=2192554f-1775-4b3b-8fb7-862d56fe1a17 |access-date=2026-03-17 |website=www.bseindia.com}}</ref>

== Acquisitions ==
{| class="wikitable sortable"
|-
! width="30%" | Company acquired
! width="15%" | Country
! width="15%" data-sort-type="usLongDate" | Date
! width="35%" | Business
! width="5%" | Reference
|-
|Citigroup Fund Services Canada
| {{flagicon|Canada}} Canada
|February 2011
|IT consulting
|<ref>{{Cite web|title=L&T Infotech acquires Citigroup's Canadian IT unit|url=https://www.business-standard.com/article/technology/l-t-infotech-acquires-citigroup-s-canadian-it-unit-111020100101_1.html|access-date=2013-01-25|website=Business Standard|date=February 2011 }}</ref>
|-
|Information Systems Resource Centre (ISRC)
|{{flagicon|India}} India
|October 2014
|IT services
|<ref>{{Cite web|title=L&T Infotech buys Otis Elevator's Information Systems Resource Centre|url=https://www.thehindubusinessline.com/info-tech/LampT-Infotech-buys-Otis-Elevator%E2%80%99s-Information-Systems-Resource-Centre/article20897668.ece|access-date=2014-10-28|website=The Hindu Business Line|date=28 October 2014 }}</ref>
|-
|AugmentIQ Data Sciences
|{{flagicon|India}} India
|October 2016
|[[Big data]], [[data analytics]]
|<ref>{{Cite web|title=L&T Infotech to acquire analytics start-up AugmentIQ|url=https://www.livemint.com/Companies/OFHtFgn1Jz0GwFD0muUSjL/LT-Infotech-to-acquire-Analytics-startup-AugmentIQ.html|access-date=2016-10-25|website=Mint|date=25 October 2016 }}</ref>
|-
|Syncordis
|{{flagicon|Luxembourg}} Luxembourg
|November 2017
|[[Core banking]] technology
|<ref>{{Cite news|title=Larsen & Toubro Infotech to acquire Syncordis SA|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/larsen-toubro-infotech-to-acquire-syncordis-sa/articleshow/61647343.cms|access-date=2017-11-14|newspaper=The Economic Times|date=14 November 2017 }}</ref>
|-
|Ruletronics
|{{flagicon|India}} India
|January 2019
|[[Business process management]]
|<ref>{{Cite news|title=Larsen & Toubro Infotech acquires Ruletronics for $7.48 million|url=https://economictimes.indiatimes.com/tech/software/larsen-toubro-infotech-acquires-ruletronics-for-7-48-million/articleshow/67578486.cms |access-date=2019-01-17|newspaper=The Economic Times|date=17 January 2019 }}</ref>
|-
|Nielsen+Partner
|{{flagicon|Germany}} Germany
|February 2019
|IT consulting
|<ref>{{Cite news|title=LTI to acquire Germany's Nielsen+Partner in a $31.6M deal|url=https://economictimes.indiatimes.com/corporate/lti-to-acquire-germanys-nielsenpartner-for-31-6m/articleshow/67989138.cms |access-date=2019-02-14|newspaper=The Economic Times|date=14 February 2019 }}</ref>
|-
|Lymbyc
|{{flagicon|India}} India
|July 2019
|[[Artificial intelligence|AI]], [[machine learning]]
|<ref>{{Cite news|title=LTI to acquire advanced analytics firm Lymbyc|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/lti-to-acquire-advanced-analytics-firm-lymbyc/articleshow/70257025.cms |access-date=2019-07-17|newspaper=The Economic Times|date=17 July 2019 }}</ref>
|-
|Powerupcloud Technologies
|{{flagicon|India}} India
|October 2019
|[[Cloud computing]]
|<ref>{{Cite news|title=Larsen & Toubro Infotech to acquire PowerupCloud|url=https://www.thehindu.com/business/larsen-toubro-infotech-to-acquire-powerupcloud/article29728323.ece |access-date=2019-10-17|newspaper=The Hindu|date=17 October 2019 }}</ref>
|-
|Cuelogic Technologies
|{{flagicon|India}} India
|July 2021
|Digital engineering
|<ref>{{Cite web|title=LTI concludes acquisition of Pune-Based Cuelogic|url=https://www.business-standard.com/article/news-cm/lti-concludes-acquisition-of-pune-based-cuelogic-121070800360_1.html|access-date=2021-07-08|website=Business Standard|date=8 July 2021 }}</ref>
|-
|[[Mindtree]]
|{{flagicon|India}} India
|May 2022
|IT services
|<ref>{{Cite news |last=Mudgill |first=Amit |title=L&T Infotech announces merger with Mindtree |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/lt-infotech-announces-merger-with-mindtree/articleshow/91373633.cms |access-date=2022-05-09}}</ref>
|-
|}

== Logo ==
{{Gallery|height=100|width=150|mode=traditional|align=center}}<gallery caption="History of logo">
File:LT Infotech First Logo.jpg|Original logo used till 2007
File:L&T Infotech logo.jpg|Logo used from 2007 to 2017
File:LTI Lets solve.png|Logo used from 2017 to 2022
File:LTIMindtree Logo.svg|Logo used from 2022 to 2026
File:LTM Coral.svg|Logo used from 2026 onwards
</gallery>

==See also==
*[[L&T Technology Services]]

{{commons category}}

== References ==
{{Reflist|30em}}

== External links ==
* {{official}}
{{Larsen & Toubro|state=collapsed}}
{{Nifty 200 companies}}
{{Contract research organization|state=collapsed}}

{{DEFAULTSORT:LTIMindtree}}
[[Category:Companies based in Mumbai]]
[[Category:Software companies of India]]
[[Category:Information technology consulting firms of India]]
[[Category:Larsen & Toubro]]
[[Category:Software companies based in Mumbai]]
[[Category:Software companies established in 1996]]
[[Category:1996 establishments in Maharashtra]]
[[Category:Indian companies established in 1996]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Multinational companies headquartered in India]]

LTIMindtree - Revision history

Robigk at 19:22, 25 March 2026